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| KEEPING YOUR ESTATE IN THE U.S.A. A doctor and his wife came in for estate planning and explained that they just wanted their very substantial estate divided among their three children via simple wills. "But," the doctor said, "one of our daughters and her husband have moved to the Middle East and I have been thinking 'What if they were having one of those wars in the Middle East at the time of our death? What would happen?'" I replied, "Doctor, if I were you, I wouldn't let a penny of my money get out of the good old USA. I would create a trust and keep the principal here in America. You could have your trustee send the income checks to the Middle East; but, you would not lose your principal to any international incident." Thoughtfully, both he and his wife agreed. While we call it a Spendthrift Trust, it is intended to protect people from a wide variety of life's vicissitudes. If there is any possibility that your estate could be entangled in international events, be sure to create and fund the trust you need. |
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